South32 Limited, a mining and metals company in Australia, announced the sale of its aluminum value chain assets to Alcoa Corporation in a transaction valuing the business at up to US$5.6 billion. The agreement excludes Mozal Aluminium and includes the transfer of around US$1.2 billion in related rehabilitation provisions to the buyer.
Announced on July 1 as Matt Daley assumed the role of chief executive officer and managing director, the divestment aims to reorient South32 toward base metals operations. The transaction is expected to close in the second half of the fiscal year 2027, subject to the mining company’s shareholder approval and customary regulatory conditions.
South32 agrees to sell aluminum assets to Alcoa for $5.6 billion
23 Jul 2026 15:37 reported by Joy Liu
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